Monday, August 31, 2015

Chicago PMI decreases slightly in August

by Bill McBride on 8/31/2015 09:57:00 AM

Chicago PMI: August Chicago Business Barometer Down 0.3 Point to 54.4

The Chicago Business Barometer held on to most of July’s gain, falling just a fraction to 54.4 in August from 54.7 in July. While below the highs seen towards the end of last year, it’s still consistent with a bounceback in activity in the third quarter following recent weaker growth.
Chief Economist of MNI Indicators Philip Uglow said, “It was pretty much steady as she goes in August with orders and output just about holding on to July‘s gains. While the slowdown earlier in the year looks temporary, we‘re still some way below the strong growth rates seen towards the end of 2014“
emphasis added
This was below the consensus forecast of 54.7.